ZG NEVADA LTD PARTNERSHIP 4
4 · DIGITAL LIGHTWAVE INC · Filed Feb 14, 2005
Insider Transaction Report
Form 4
ZWAN BRYAN J
Director10% OwnerOther
Transactions
- Other
Secured Convertible Promissory Note
2005-02-10+0(indirect: By LLC)
Holdings
- 15,383,750(indirect: By Partnership)
Common Stock
Footnotes (2)
- [F1]On September 16, 2004, Digital Lightwave, Inc. issued Optel Capital, LLC ("Optel") a secured convertible promissory note (the "Note") in the principal amount of $27,000,000.00 pursuant to which any outstanding principal and interest amounts owed under the Note may be converted into shares of the Issuer's Common Stock at a 5-day average market price at the option of Optel any time after February 10, 2005, the date upon which the holders of a majority of the outstanding shares of the Issuer's Common Stock who are not affiliated with Optel or its affiliates approved the conversion feature of the Note at a special meeting of the stockholders of the Issuer. Optel is ultimately controlled by Dr. Bryan J. Zwan.
- [F2]ZG Nevada Limited Partnership is ultimately controlled by Dr. Bryan J. Zwan.